That's more than 75 times in returns from the sale of the 0.35% stake or 1,60,000 shares of One97 Communications that Vora owned.

Vora, who quit IDFC Securities in 2014 to set up investment firm Sixth Sense Ventures, continues to hold shares in Paytm E-commerce, which was demerged from One97 Communications this year.

The transaction was part of a larger secondary share sale round that had institutional investors Saama Capital, Sapphire Ventures and Reliance Capital also selling their holdings in One97 to Alibaba and its payment affiliate Alipay.

The Chinese companies together now own about 45% in One97 Communications, up from about 41%.

Vora, who confirmed the development, had picked up the stake in One97 after its aborted initial public offering in 2011 as the company sought to transition from a mobile value-added services provider to a mobile internet firm.

ET reported in its January 3 edition that Vora was looking to cash in on the Paytm owner's rising valuation and was in talks with Hero Group's Sunil Munjal and Saroj Poddar, the chairman of fertiliser and engineering services conglomerate Adventz Group. The secondary sales peg One97's pre-money valuation at about $7 billion. The company is in talks to raise $1.4-1.9 billion from Japan's SoftBank at a valuation of $8-9 billion.

Vora now plans to launch a second venture fund, the size of which he declined to disclose, and a Rs 250-crore public markets fund focused on the consumer market in two to three months.

His investment firm's maiden fund, Sixth Sense India Opportunities-1, has made eight investments and counts Small Industries Development Bank of India (Sidbi) as its main investor. Some of Sixth Sense's recent investments include LEAP India, a Mumbai-based supply chain solutions company, and Soothe Healthcare, which makes the Paree brand sanitary napkins.

“Six companies in our portfolio have already seen a new round at a higher valuation,“ Vora told ET.

The firm's other investments in clude luxury watches retail chain operator Ethos and Cross Roads India Assistance, which provides road-side assistance for cars and twowheelers. While known for closely tracking listed retail and consumer goods companies, Vora also has been an active personal investor in privately held companies over the last decade.

His personal investments include Vini Cosmetics, a Sequoia Capital India-backed consumer goods company that sells the deodorant brand Fogg; online cosmetics retailer Purplle; and Air Works, an aviation maintenance and overhaul services provider that is backed by private equity firms New Enterprise As sociates and GTI Ca pital. Pre-scho ol chain Kangaroo Kids, anot her of his personal in vestments, was acqui red by rival Eurokids.